A buyer should verify the rent roll against permits before financing, since a bank underwrites documented, legal income and discounts or ignores the rest. A seller should do the same work before listing, because a price built on undocumented income invites a lower offer once a buyer's own inspection turns up the gap.
Above four units, valuation shifts from comparable sales toward net operating income and a capitalization rate, and a lender will usually want a report from an Appraisal Institute of Canada designated appraiser. Below that threshold, comparable sales with a rent adjustment still apply. Either way, budget legal fees of $800 to $1,500 to close through a Saskatchewan lawyer.
Knowing which side of that line a property sits on changes the whole strategy. Get your hand-reviewed valuation from Joel Dyck.